The Nifty Futures hourly charts of Extreme Indications signal that the possibility of a short-term bounce back is nearing, and the market may have found support around 24816 levels.
The Expected short-term target is likely to be 25350 and all-time high levels in the current month contract, possibly ahead of the major 18th September FED Announcement.
India VIX dropped by 6.44% during Monday’s trading session, reflecting decreased market volatility.
Gift Nifty was trading around the 25,036 level, showing a premium of approximately 56 points compared to the previous close, signaling a positive opening for Indian stock market indices.
And needless to say the long term and intermediate (Medium Term) trend too in the up trending path. And Probabilities are increased for a short term bottom formation as well.
